GLOBAL TREND REPORT MARKETING 2015 OUTLOOK

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1 GLOBAL TREND REPORT MARKETING OUTLOOK

2 A HIGHLY POSITIVE OUTLOOK FOR MARKETING PROFESSIONALS The Marketing discipline has been evolving rapidly over the past few years. The emphasis on digital platforms and understanding the customer through data analytics has resulted in a convergence between marketing and IT. While this trend will continue, in recent months we have also seen more organisations recruiting into strategic marketing roles and in some regions there is also a skills shortage in traditional marketing communications. Where there is a shortage of talent at junior levels, many organisations are willing to take on less experienced individuals who show potential, and train them. Overall the outlook is very positive for 2015 it is a good time to be in marketing! QUICK LINKS MAINLAND CHINA... 2 FRANCE... 3 HONG KONG...4 IRELAND... 6 SINGAPORE...8 UNITED ARAB EMIRATES... 9 UNITED KINGDOM...11 In Mainland China, marketing has evolved rapidly in recent years and there is a talent shortage at senior levels In France many organisations are looking to consolidate their senior marketing teams at European level while recruiting digital specialists who can execute on the strategy In Hong Kong there is a strong focus on digital marketing and customer experience There are excellent opportunities across the board in Ireland, especially for digital marketers, e-commerce and marketing communications professionals. There is a skills shortage in web analytics In Singapore there is a talent shortage and while there is demand for digital and tech-savvy marketing professionals, some functions are being offshored UAE-based companies are internationalising rapidly, creating demand for strategic marketers In the UK hiring organisations are seeking talent across a wide range of marketing and communications specialisations, both traditional and digital In many regions recruitment budgets are increasing Salaries are likely to increase in regions where there is strong demand and short supply at senior levels 1

3 It is an advantage to be able to demonstrate some career stability. MAINLAND CHINA INCREASING RECRUITMENT BUDGETS While the talent pool for digital marketers has grown in recent years, the focus is now turning to CRM, where hiring organisations have found it challenging to identify candidates with the right skills and experience. Overall the situation for marketers is improving. Though the rate of growth in China has slowed relative to previous years, the outlook is positive for marketing-driven organisations. There is a shortage of talent at senior levels and recruitment budgets are increasing. Digital marketers, e-commerce and analytics specialists are currently very much in demand and we expect this trend to continue through There are also opportunities for marketing professionals early in their career as the talent shortage is forcing companies to train up less skilled professionals who show potential. Talent with a combination of agency and in-house experience is highly sought after for senior and assistant manager level roles both in-house and at service providers, says Rio Goh, Manager of Morgan McKinley China. It is an advantage for candidates to be able to demonstrate some stability and commitment. Things have changed rapidly in China and whereas most people stay only two to three years in a role, a candidate who can demonstrate solid achievements at a company over a longer period will stand out, he adds. SALARIES & BENEFITS Sales and marketing professionals staying in their current role will probably receive on average a 6-8%. Those moving to a new role can expect a 15-20% increase. 2

4 There is a major focus on brand content and internationalisation as well as digital transformation. FRANCE CONSOLIDATION OF GENERIC MARKETING FUNCTIONS In France we have seen little discernible change in overall demand for marketing professionals, but some changes in emphasis. Operating models are changing with the creation of new European platforms and hubs and this calls for strategic skills at the European level, with a consolidation of generic marketing functions, combined with high-quality local execution. Companies are buying in digital marketing talent and we expect to see this trend increase throughout There is a focus on internal mobility and retention of key people, and at the same time the need to get strategic and specialised professionals on board. At the senior level there is a strong preference for candidates who are fluent in English, to support the development of European platforms, say Hubert Levesque, Managing Director, Morgan McKinley France. An MBA in international marketing is therefore a highly valued qualification. At the top end of the marketing hierarchy there is a major focus on brand content and internationalisation as well as digital transformation. Organisations see these as the three key pillars of growth, adds Levesque. At the execution level there is increased focus on direct marketing, CRM and data mining. We expect potential candidates to get more proactive in seeking new opportunities in Despite the prevailing economic outlook, and recruitment freezes in some companies, organisational change will keep the market reasonably fluid, with recruitment at senior and junior levels for in-house talent. SALARIES & BENEFITS Marketing stars with compelling strategic skills or digital expertise, especially on an international level, can expect high salary growth in Generally speaking, marketers with smart and expert profiles can expect to see an improvement in salaries but we anticipate no significant growth for candidates with generic marketing skills. 3

5 CMO and CIOs are now more intrinsically linked than ever before. HONG KONG GAP BETWEEN IT AND MARKETING IS CLOSING FAST With the rise of digital and mobile marketing, all marketing professionals need to be tech-savvy. The gap between IT and marketing has narrowed. Marketing professionals with a technology mind-set will be much better equipped to navigate their way through to a successful career path, comments Emma Brinsford, Manager, Sales & Marketing recruitment at Morgan McKinley Hong Kong. There are abundant opportunities at all levels of seniority in digital marketing, SEO, SEM and digital analytics. Organisations in Hong Kong increasingly understand the importance of providing an excellent customer experience and it falls to marketing to take the lead in representing the consumer or client s voice. Therefore we are also seeing many new roles being created for marketing analytics and customer experience specialists, says Brinsford. Big data, analytics and CRM used to be IT disciplines but now they are part of the marketing mainstream. Specific marketing qualifications are not usually a requirement, though to make a start in marketing at a junior level, candidates generally need a degree. Industry-specific product training is of far greater significance. Whilst traditional marketing is what we all know, it is fundamentally static and it is hard to measure results. Companies now mainly interact with customers and measure brand loyalty and advocacy via digital marketing, says Brinsford. Fluency in Chinese is becoming more important as Hong Kong-based organisations look to increase their share of the market on the mainland, she adds. Junior-level candidates are often required to take a writing test in simplified or traditional Chinese. However, rather oddly, at some levels there is a lack of consistency between the requirements of hiring managers and those of the HR department. For example, senior managers put most emphasis on marketing experience at regional manager level, whereas the HR function may insist on Cantonese or Mandarin language skills, says Brinsford. At the senior level, Chief Marketing Officers are playing an increasingly strategic role, taking on leadership responsibilities that used to fall within the remit of the CTO and CEO. In particular, CMOs are expected to be IT and data savvy in order to lead initiatives to interact with customers and predict future marketing trends. 4

6 SALARIES & BENEFITS Hong Kong as a whole is expecting an average of 5% increase in salaries for existing employees across the board for Financial services, NGOs and construction will be at the higher end of pay increases whereas those in commerce slightly lower. This means that salary increases will be lower than in most Asian economies. Those moving jobs will probably receive an increase in the order of 8-13%. 5

7 Things are improving rapidly in marketing and remuneration will catch up. IRELAND A GREAT TIME FOR MARKETERS TO BUILD EXPERIENCE Many organisations based in Ireland are applying a more strategic approach to marketing as they seek to capture the opportunities presented by the economic upswing. In particular, there is a heightened focus on improving the customer experience and developing e-commerce channels. We have seen a lot of organisational change and increasing demand for new headcount in digital marketing, e-commerce and marketing communications. As we progress through 2015, we expect to see more opportunities for IT-savvy marketing professionals, for example in CRM and marketing database management. We have an excellent marketing talent pool here in Ireland. Demand is increasing steadily at junior and assistant manager or project manager levels both in-house and with agencies and service providers, comments Cecilia Desmond, Recruitment Consultant at Morgan McKinley Ireland. There is also very healthy demand for in-house senior and strategic marketers. A standard requirement from hiring organisations is a qualification in marketing and, increasingly, digital marketing. Marketing and marketing communications professionals with experience of design packages, Google certifications and e-commerce platforms should have no problem finding a suitable role. A postgraduate diploma in digital marketing is a good idea for career starters and there are various Master s degrees in various aspects of marketing that not only provide a good theoretical grounding but also practical experience. Individuals who are interested in the organisational development and strategic aspects of marketing would do well to consider taking a course in a project management methodology such as Prince 2. If you are moving between jobs and want to enhance your skills in digital marketing, you need to be both creative and realistic in how you go about it. For example, many SMEs could benefit from a social media strategy but simply don t have the budget that would be required to make an impact. This can lead to frustration. So my advice is to apply for roles that will help aspiring marketers to achieve their objectives and build on their experience, comments Desmond. Overall, things are definitely on an upward curve! she concludes. 6

8 SALARIES & BENEFITS Salary increases depend on overall company and industry performance; therefore people remaining in their own jobs may not receive an increase in 2015 or may see an increase up to 5%. When changing jobs and bringing a specialised skill set together with a relevant depth of experience, candidates can expect to receive an increase of between 5-10% on their salary. 7

9 The local talent pool is weak in some areas. SINGAPORE OPPORTUNITIES TO MOVE UP IN DIGITAL MARKETING There is increasing demand for marketing professionals with skills and experience in digital marketing and marketing analytics and, at the moment, the local talent pool in Singapore is too weak to satisfy all requirements. While organisations may attempt to attract candidates from abroad, particularly from other Asian countries, the best (though far from ideal) solution is often to train less experienced people. Consequently there are excellent opportunities for individuals to step up to fairly senior in-house and agency positions fairly early in their career. Nevertheless the economic outlook is rather uncertain so many marketing professionals will be content to stay put and move forward in their current organisation. Although we expect to see more recruitment into senior and strategic marketing positions, and continued growth of digital marketing and e-commerce, the globalisation and consolidation of some marketing functions is depressing the overall level of demand. SALARIES & BENEFITS Singapore is expecting an average 5-8% increase in salaries for those who stay within the current organisation; 10-15% for job seekers moving to a new organisation. 8

10 It is important to have a grasp of the region s cultural differences. UNITED ARAB EMIRATES EXCELLENT OPPORTUNITIES AT SENIOR LEVEL Recruitment budgets are increasing as UAEbased companies seek to capitalise on the current economic upturn and reorganise. We have seen strong demand for marketing communications, digital marketing and strategic marketing specialists. E-commerce is also going to be a focus later in However, while there is generally an adequate talent supply to meet most of these needs, there is an absence of social and digital marketing experts who have had exposure to global best practices. Local candidates are preferred because it is important to have a grasp of the region s cultural differences, says Jack Khabbaz, Manager Supply Chain & Procurement, Sales & Marketing Executive Search, Morgan McKinley MENA region. This is particularly important for customer intelligence roles and social media engagement, which are important IT-based skills. Demand is focused at assistant manager and project manager levels both in-house and at agencies and service providers. There is also strong demand for senior in-house managers. Hiring organisations tend to prefer candidates who have a Master s degree or MBA and who have attended international schools. Successful candidates tend to have a strong educational background, typically western educated and with a postgraduate qualification gained either locally or abroad, says Khabbaz. We are very optimistic about the prospects for marketers in 2015, particularly at senior levels in the FMCG, pharmaceuticals, construction, banking, hospitality and oil and gas sectors. Multinationals based in the region are broadening their scope from Dubai to Sub-Saharan Africa, Turkey and the Commonwealth of Independent States. Consequently there is increasing demand for strategic thinkers. To succeed at this level you need ideally exposure to change management or environments where companies have undergone transformations or mergers and acquisitions that have extended the scope of their operations, concludes Khabbaz. 9

11 SALARIES & BENEFITS Marketing professionals staying in their current role are likely to receive salary increases in the order of 5-7% while those changing jobs 15-20%. 10

12 My advice to marketing professionals is to build their product knowledge. UNITED KINGDOM TRADITIONAL MARKETING SKILLS STILL IN DEMAND While new technologies and digital are driving most demand for marketing professionals in the UK as elsewhere, we have been surprised by the volume of hiring into more traditional roles and the ongoing demand for print production specialists, especially within financial services. Companies are realising the true value of content marketing and hence investing in traditional creatives with technical product knowledge. For example, investment writers are much sought after. Marketing whether traditional or digital is very industry-specific as it is essential to understand what motivates the customer and to gain a deep understanding of products and/or brands. Therefore my advice to marketing professionals is to build their product knowledge as well as their expertise in social media and new technologies, says Jo Stone, Associate Director, Marketing & Distribution at Morgan McKinley. While social media and technologies can be learnt, there is no substitute for real-life experience and exposure to actual marketing projects, so internships can be the best source of training for recent graduates. In areas of low supply of talent such as RFP/bid writers, hiring firms are having to lower their expectations of the level of experience ideally required, so a relevant placement year or internship can be a great boost to a graduate job application. At the senior level, marketing roles are becoming increasingly strategic. Moreover, as companies seek to broaden their distribution networks and develop into new markets, roles often have a European or global remit. It is also now the norm for senior hires to require good knowledge of digital marketing and data analytics. Whilst not critical, there is certainly a shortage of available senior talent ticking all of these boxes, so Morgan McKinley is advising hiring organisations to invest in hiring at a more junior level and moving people forward within the organisation. Overall our outlook for the UK market is optimistic and it is a good time for marketing, communications and business development professionals to look for new opportunities. 11

13 SALARIES & BENEFITS Salary increases in 2015 will vary widely, generally from 5% up to 12% in buy-back situations. The highest increases will tend to be at junior level, although marketing professionals with skill sets that are in very high demand (e.g. RFP/bid writers) may be offered exceptional pay hikes of up to 25%. For marketing professionals moving to a new role, the average increase is likely to be 10%, though if the hiring organisation has a strong brand or an ability to offer more flexible working conditions, it may offer far less. 12

14 GLOBAL TREND REPORT MARKETING A MORGAN McKINLEY GROUP COMPANY

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